Norfund's Rs 3.5 billion investment in Fourth Partner Energy
POWER & RENEWABLE ENERGY

Norfund's Rs 3.5 billion investment in Fourth Partner Energy

Norwegian investment fund for developing countries, Norfund, announced that it was making a fresh investment of Rs 3.5 billion into Fourth Partner Energy (4PEL), India's leading renewable energy solutions platform.

According to the official press release, it was stated that this marked the second round of equity infusion into the company by Norfund. This followed their previous investment of $100 million in June 2021.

Anders Blom, the Vice President at Norfund, expressed the organization's enthusiasm about injecting an additional Rs 3.5 billion into 4PEL. He mentioned that this move was in line with the company's progress towards achieving its target of a 3.5 GW asset portfolio by 2025.

Blom further added that the two firms had jointly initiated wind power generation activities in Gujarat, along with the development of hybrid parks in Tamil Nadu and Karnataka. He also pointed out that the company had experienced substantial growth, expanding its asset base from 550 MW in 2021 to its current capacity of 1.35 GW.

Vivek Subramanian, who is the co-founder and executive director at Fourth Partner Energy, remarked that India's green energy ecosystem was undergoing a transformative phase.

In terms of debt arrangements, Subramanian mentioned that several lenders, including BII, OikoCredit, responsAbility, SBI, IREDA, and TCCL, had reaffirmed their commitment. He revealed that Fourth Partner had secured Rs 5.6 billion as project finance from IFC to support the execution of 90 MW of rooftop solar assets across India, in addition to a 75 MW solar park in Atharga, Karnataka.

Subramanian also highlighted the company's international ventures, stating that they had raised $9 million from responsibility for business expansion in Indonesia. He also mentioned securing the fourth tranche from the Swiss Climate Action fund, marking the first for their operations in Indonesia.

Also read: 

Taylormade Renewables gets Rs 1.59 bn order from Andhra Pradesh                            

India revamping energy codes for sustainablebuildings                              



Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Norwegian investment fund for developing countries, Norfund, announced that it was making a fresh investment of Rs 3.5 billion into Fourth Partner Energy (4PEL), India's leading renewable energy solutions platform.According to the official press release, it was stated that this marked the second round of equity infusion into the company by Norfund. This followed their previous investment of $100 million in June 2021.Anders Blom, the Vice President at Norfund, expressed the organization's enthusiasm about injecting an additional Rs 3.5 billion into 4PEL. He mentioned that this move was in line with the company's progress towards achieving its target of a 3.5 GW asset portfolio by 2025.Blom further added that the two firms had jointly initiated wind power generation activities in Gujarat, along with the development of hybrid parks in Tamil Nadu and Karnataka. He also pointed out that the company had experienced substantial growth, expanding its asset base from 550 MW in 2021 to its current capacity of 1.35 GW.Vivek Subramanian, who is the co-founder and executive director at Fourth Partner Energy, remarked that India's green energy ecosystem was undergoing a transformative phase.In terms of debt arrangements, Subramanian mentioned that several lenders, including BII, OikoCredit, responsAbility, SBI, IREDA, and TCCL, had reaffirmed their commitment. He revealed that Fourth Partner had secured Rs 5.6 billion as project finance from IFC to support the execution of 90 MW of rooftop solar assets across India, in addition to a 75 MW solar park in Atharga, Karnataka.Subramanian also highlighted the company's international ventures, stating that they had raised $9 million from responsibility for business expansion in Indonesia. He also mentioned securing the fourth tranche from the Swiss Climate Action fund, marking the first for their operations in Indonesia.Also read:  Taylormade Renewables gets Rs 1.59 bn order from Andhra Pradesh                             India revamping energy codes for sustainablebuildings                              

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000